Accounting

In respect of the daily activities, running costs and financial accounting of the company:
 
In spite of the fact that SBB UK and ASCAT is trading as a sole trader under one man band, the firm's CEO and chairman (Peter Gaisiance) is required to prepare financial statement for each financial year which give a true picture and fair view of the state of affairs and activities of the company and the profits or loss of the firm for that period. In preparing these financial statements, the CEO and chair is required to:
 
• Select suitable accounting policies and then apply them consistently;
 
• Make judgement and estimates that are reasonable and prudent;
 
• State whether applicable UK accounting standards or Sudan accounting standard are suitable in this matter and also whether they have been followed, subject to any material departures disclosed and explained in the financial statements; and
 
• Prepare the financial statement on the going concern basis unless it is inappropriate to presume that the firm will continue in pursuing that particular option of trading, e.g. seeds without foreseeing loss, in which case there should be supporting assumptions or qualifications is necessary. This practice, if is follow consistently is likely to win us the customers' supports who like to invest in us by way of continuing making order for unlimited amounts of items that this firm is committed to supply.
 
• The CEO and chair of SBB UK and ASCAT in conjunction with everybody else, in particular the accounting department of the firm is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the firm and enable him to make the financial statement comply with norm of the country it operates in. He is also responsible for safeguarding the assets of the ASCAT and SBB. 
 
• The CEO and chair is responsible for the maintenance and integrity of the corporate and financial information on the SBB and ASCAT's website. In must be bear in mind that rule of law that governing the preparation and dissemination of financial statements of a small sole trader or firm may differ significantly from one type of jurisdiction to another, for example, from Sudan to UK and Northern Ireland.